Having health insurance protection is important for everyone. As an agent with BHI, I offer residents of Los Angeles, and the surrounding communities, a choice when it comes to their healthcare options.
Health Insurance in Los Angeles
On October 15th 2018, Covered California will begin processing renewals for individual and group health insurance plans. As a result, anyone living in Los Angeles must now take the time to research available health insurance options and update their coverage accordingly to align with the renewal dates.
As of 2017, Los Angeles County has over 893,000 people who are uninsured. With the open enrollment period upon us, now is a great time to examine the coverage options available, the rate of such options, and even alternative options if standard premiums are out of your budget. Like many states, California offers numerous insurance options to individuals living in the state, especially within the city limits of Los Angeles.
Family, Individual, or Group Plans
There are several types of policies available for health insurance coverage. However, to understand health insurance options, it is important to start with the very basics of available coverages. Insurance is available in three different formats. There are individual insurance plans, family insurance plans, and group insurance plans. Individual plans mean that the insurance policy covers one person. If you are a single person over the age of 26, you will be eligible for this plan.
In contrast, there are family insurance plans. This means that the head of the household or joint household heads and their dependent children are covered under one policy. Dependent children include any children under the age of 18 who are not covered by their own insurance policy.
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Finally, there are group plans. These plans are offered by an employer. Typically, they are more affordable and offer somewhat better coverage than the individual or family plans for the plan premium. This is because the plan is priced based on a larger pool of enrolled individuals from one company. You may add your family to your plan under the group insurance plan.
Los Angeles offers numerous types of policies that cater to families, individuals, and groups. As of today, seven carriers offer some type of health insurance in Los Angeles County which are available on or off the exchange:
Over 156,000 Los Angeles residents are uninsured because they do not qualify for subsidies through the Marketplace but cannot afford the cost of the insurance. These individuals would rather accept the tax penalty than must choose between paying for health insurance or putting food on the table.
- Kaiser Permanente
- HealthNet
- Blue Shield California
- A. Care
- Molina Healthcare
- Oscar
In addition, there are several options for alternative health insurance to help keep costs down and coverage available to those Los Angeles County residents in need.
Covered California and Insurance Alternatives
When looking at health insurance plans, there are numerous options to help you make an informed decision. First, California’s health care exchange is known as Covered California. California has their own state-run health exchange whereas most states use the federal exchange at healthcare.gov.
Those looking for individual or family insurance plans may choose to purchase through the marketplace to find the best available plans and pricing for their budget. Depending on your income level, you may be eligible for a subsidy. For instance, if your income is below 400% FPL, which is approximately $47,000 for one person or $98,000 for a family of four, this could qualify you for premium assistance.
Where you live in Los Angeles County will determine which carriers are available in you area. Plans can be purchased fom the exchange or directly form the carriers mentioned above.
Los Angeles residents may be eligible for insurance from two or up to six of these companies, depending on location in the county. Many of these plans are high deductible plans that offer an HSA account to help offset the out of pocket insurance costs.
Unfortunately, over 156,000 Los Angeles County residents are uninsured because they do not qualify for subsidies through the Marketplace and cannot afford the cost of the insurance on their own. There are alternatives to help you obtain coverage. One option that is growing in popularity are Health Sharing plans. These are insurance plans that spread the cost of medical care across a group of individuals. This makes insurance more affordable for many. BuyHealthInsurance.com has options like Aliera Plans, if traditional insurance plans are not working for you.